Phenolic resins in primary forms market in Finland

Earlier Report Observations

From 2018 to 2021, Finland's phenolic resins market volume grew from 139.9 thousand tons to 162.4 thousand tons, with a particularly strong increase of 10.5% in 2021. This expansion was supported by rising demand and enhanced production capacity, while technological advancements in resin applications opened new market opportunities and further stimulated consumption.

The market then contracted over the next two years, falling to 145.8 thousand tons in 2022 and dropping sharply to 106.9 thousand tons in 2023. The decline represented a reduction of more than one‑quarter of the market volume compared to the previous year.

In 2024, the market rebounded to 117.2 thousand tons, a growth of 9.6%. Finland continued to lead the world in per‑capita consumption of phenolic resins, with steady demand growth providing a foundation for the recovery.

Production phenolic resins in primary forms in Finland

In value, 2017-2020, K $ US

Finland's production of phenolic resins in primary forms experienced a decline after two years of growth. In 2019, output reached its peak at 96 393 thousand US dollars, but by 2020 it had fallen to 80 885 thousand US dollars, representing a 16.1% decrease from the previous year. The most significant increase occurred in 2018, with a rise of 9.6%.

Annual dynamics of production in Finland in value, 2017-2020, K $ US

In kind, 2017-2020, K t

Finland's production of phenolic resins in primary forms has grown for three consecutive years. In 2020, output reached 145.6 thousand tonnes, marking a modest increase of 4.6% compared to 2019. Over the period from 2017 to 2020, production rose by 8.6%, with an average annual growth rate of 2.8%.

Annual dynamics of production in Finland in kind, 2017-2020, K t

Exports phenolic resins in primary forms from Finland

Market analysis indicates that Finland did not export any phenolic resins in primary forms between 2017 and 2020.

Imports phenolic resins in primary forms to Finland

Imports in kind, t

After two years of decline, Finland's imports of phenolic resins in primary forms rebounded. In 2019, imports hit their lowest point at 1 091 tonnes, but by 2020 they had climbed to 1 341 tonnes, showing a strong increase of 22.9% from the previous year. The most substantial drop occurred in 2018, with a decrease of 17.8%. Overall, from 2017 to 2020, imports fell by 2.3%, equivalent to an annualized decline of 0.8%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, t

From 2017 to 2020, three key markets—Norway, France, and South Korea—collectively represented 74.0% of Finland's total imports of phenolic resins in primary forms by volume.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, K $ US

Following two years of contraction, Finland's imports of phenolic resins in primary forms saw a significant upturn. In 2019, imports reached their minimum at 2 866 thousand US dollars, with a notable decline of 25.8% that year. However, by 2020, imports had surged to approximately 3 745 thousand US dollars, reflecting a dramatic increase of 30.6% compared to 2019. Over the 2017-2020 period, imports decreased by 8%, with an average annual decline of 2.7%.

Annual dynamics of product's imports to Finland in value, 2017-2020, K $ US

Between 2017 and 2020, Norway, France, and South Korea remained the top suppliers of phenolic resins in primary forms to Finland in value terms. Norway accounted for 45.5% of imports, France for 27.8%, and South Korea for 6.7%, together making up 80.1% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020